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Max out your state pensionPublished 29/01/2019

If you are yet to reach State Pension Age (SPA), you will need to have accrued 35 complete years of National Insurance Contributions (NIC) to receive the full state pension.

To receive any UK state retirement pension, you need at least ten complete NIC years. You can check how much state pension you are due to receive through your personal tax account on gov.uk. We can help you with this.

It is possible to plug gaps in your NIC record by paying voluntary class 2 or class 3 NIC. This payment generally needs to be made within six years of the gap year, but there are a number of exceptions which extend that period.

You may also qualify for NI credits for some years if you were claiming state benefits, Child Benefit or were a foster carer. The NI credits were not always applied automatically, so it’s worth checking your own NIC record.

If you have already paid enough NIC to get the full state pension, you may consider taking further rewards from your company in other forms, such as dividends or private pension contributions.

ACTION POINT! Consider topping up your NIC record by claiming NIC credits or paying more contributions.

Get in touch - If you'd like to find out more about how we can help you and your business pay less tax, generate more profits and create long-term wealth for you and your family, please get in touch now